At a glance: reward and benefits headlines this week
The headlines you might have missed between 1-7 January 2016.
A third of employees would prefer flexible working over a pay rise
HR Magazine: A third (34%) of employees would prefer a more flexible approach to working hours than a 3% pay rise. Read story
National living wage implementation "toughest in low-pay cities”
HR Magazine: Sheffield, Nottingham and Birmingham will be most affected when the National Living Wage is rolled out. Read story
The case for employers to re-examine medical insurance
HR Magazine: Medical practitioners on the frontline see the kinds of problems employers need to be more aware of. Read story
Pay rises in 2016 will be lower than official forecasts, CIPD warns
CIPD: Employment will rise by as much as half a million in 2016 but average wage growth is likely to plateau after the introduction of the government's national living wage, the CIPD has predicted. Read story
100,000 force state pension age debate
Corporate Adviser: A petition with over 100,000 signatures has forced a debate in Parliament later this week on the speed of the increase in women’s state pension age. Read story
Dump TVA focus says APFA
Corporate Adviser: Transfer value analysis should be dropped as the most important determinant in retirement saving decision-making because it is costly and because critical yields are irrelevant in many cases says the Association of Professional Financial Advisers (APFA). Read story
24% felt motivated at work in 2015
Employee Benefits: Less than a quarter (24%) of respondents felt motivated at work in 2015, according to research by Red Letter Days for Business. Read story
Just 27% do not find the New Year return to work stressful
Employee Benefits: Just 27% of respondents do not find returning to work after the Christmas and New Year break stressful, according to research by MetLife Employee Benefits. Read story
EY awards staff $1m through global recognition programme
Employee Benefits: EY has rewarded the achievements of staff through its new global employee recognition programme, Better begins with you. Read story
Deloitte publishes pay data to demonstrate commitment to equality
Employee Benefits: In August 2015, Deloitte voluntarily released its pay data prior to this becoming a compulsory requirement for large employers under the government’s gender pay gap reporting plans. Read story
ThoughtWorks reduces gender stereotypes and pay gap
Employee Benefits: Global software consultancy firm ThoughtWorks connects its internal values with the attraction and retention of female talent. Read story
'Fat Cat Tuesday' highlights high pay at the top
HR Magazine: High Pay Centre director Stefan Stern said that the milestone highlights the continuing problem of unfair pay gaps. Read story
Financial wellbeing, education and advice: do you know what your employees need?
Reward Guide: As we start the New Year, the pensions industry will be hoping that 2016 heralds a ‘bedding in’ of regulations and policies rather than further dramatic change. Read story
High Court to rule on blocked transfer to suspected pensions liberation vehicle
Professional Pensions: The High Court is to rule on a suspected pension liberation case this month, which will give trustees and providers more clarity on their ability to block suspicious transfers. Read story
Alcatel-Lucent completes £300m buy-in with Aviva
Professional Pensions: The Alcatel-Lucent Pension Scheme has completed a £300m pensioner buy-in with Aviva. Read story
DWP urged to establish permanent mechanism for regulatory simplification
Professional Pensions: The Department for Work and Pensions should establish a permanent contact to whom the industry can send suggestions on how to reduce the regulatory burden, the Society of Pension Professionals says. Read story
Junior doctors restore strike dates as dispute over hours and pay reignites
CIPD: Strike action by junior doctors is back on after talks between the British Medical Association (BMA) and NHS Employers failed to reach an agreement. Read story
Access to emails outside work hours is ‘toxic’ source of stress for employees
CIPD: Employees checking email outside work hours has been linked to higher levels of stress and pressure. Read story
GIP rehab delivering 16-fold return – research
Corporate Adviser: Rehabilitation services delivered through group income protection policies deliver value of £110m a year to individuals, employers and the State according to research from analysts Economics, Policy and Competition. Read story
Unite Students launches voluntary benefits programme
Employee Benefits: Student accommodation provider Unite Students has introduced a voluntary benefits programme for its 1,237 members of staff. Read story
Towers Watson and Willis complete merger
Employee Benefits: The two organisations first announced that they had signed a definitive merger agreement in June 2015. Read story
Judge rules on motions in FedEx same-sex spouse pension case
Employee Benefits: A US District Court Judge has allowed a pension benefits claim brought by the same-sex widow of a FedEx employee to proceed while dismissing two other claims by the plaintiff. Read story
FTSE 350 defined benefit pension asset values fall by £6bn
Employee Benefits: The defined benefit (DB) pension asset values of FTSE 350 organisations fell by £6bn between 30 November 2015 and 31 December 2015 from £646bn to £640bn, according to a study from Mercer. Read story
TPR fine warning to 500,000 employers
Corporate Adviser: The Pensions Regulator has fired a warning to half a million small and micro employers that they risk a fine if they do not act to meet their new workplace pensions duties. Read story
Fifth of AE market to switch in next year – research
Corporate Adviser: Over 2,000 mid- to large-sized employers intend to review workplace savings provider in the next twelve months equating to one-fifth of scheme members on the AE secondary market, according to research from Platforum. Read story
Public sector workers less likely to have life cover
Cover Magazine: Public sector workers are under-protected compared to their private sector peers as research has revealed that just two in five (42%) breadwinners employed in health and education have a life insurance policy. Read story
InterContinental Hotels Group delivers business value through benefits strategy
Employee Benefits: As a large global hospitality organisation, the InterContinental Hotels Group (IHG) ensures that it has a benefits strategy in place that supports the business goal of delivering value through preferred brands and talented people. Read story
NI government offers early retirement to teachers aged 55+
Pensions Expert: The Department of Education in Northern Ireland has approved a £33.1m scheme offering premature retirement terms to members over 55 years old to make space for new hires in the workforce. Read story
Siemens issues resolution to prevent trapped surplus
Pensions Expert: Siemens, one of the world's largest electrical companies, is allowing its defined benefit scheme to make payments to the sponsoring employer, as schemes scramble to maintain their ability to prevent trapped surplus. Read story
55-59 year olds lead charge for pensions cash – FCA
Corporate Adviser: More than two thirds of pensions accessed in Q3 of 2015 were fully cashed out, with consumers aged 55 to 59 making the highest level of withdrawals. Read story
Modelling the future of benefits
Reward Guide: In an increasingly tech-reliant society, employers are taking a more virtual approach to their benefits and HR systems. Read story
Carlsberg UK to launch car salary sacrifice scheme
Employee Benefits: Carlsberg UK is to launch a car salary sacrifice scheme for its 1,600 employees in spring 2016. Read story
Scottish court backs trustees over 'unnecessary technicalities’
Professional Pensions: The Appeal Court in Scotland has struck down a challenge to pension fund rules which could have made administrating complex schemes more difficult. Read story
Savers ignore GARs to cash out small pots
Professional Pensions: Just one in three people accessing their pension pots last summer used them to provide some kind of retirement income, according to figures from the Financial Conduct Authority. Read story
Almost half of drawdown sales non-advised, FCA finds
Professional Pensions: Almost half of those opting for income drawdown in retirement have done so without seeking advice, new data from the Financial Conduct Authority (FCA) has shown. Read story
A&O staff cash in with 22 per cent bonus hike in 2014/15
The Lawyer: Allen & Overy’s (A&O) staff and partners all saw their remuneration rise last year with staff bonuses across the firm rising by 21.6 per cent, the firm’s LLP accounts have revealed. Read story